Solar Panel Cost Guide in Severn, MD (2024 Update)
- Severn Solar Installation Cost: $13,244
- 25-Year Savings: $10,531
- Payback Period: 15.8 Years
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Average Cost of Solar Panels in Severn
Find out what the average cost of solar panel installation is in Severn.
The average cost of solar panels in Severn is 4 per watt.The average Severn homeowner needs a 5.3-kilowatt system, which would cost about $13,244 with the federal tax credit, or $18,939 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Severn based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.With typical savings of about $15,000 on power bills over 20 years, many homeowners in Severn find installing solar panels can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Severn for a quote for your home.
Solar savings over time in Severn
| Year | Return on Investment |
|---|---|
| 1 years | $-11,829 |
| 3 years | $-9,001 |
| 5 years | $-6,172 |
| 7 years | $-3,343 |
| 9 years | $-514 |
| 11 years | $2,314 |
| 13 years | $5,143 |
| 15 years | $7,972 |
| 17 years | $10,801 |
| 19 years | $13,629 |
| 21 years | $16,458 |
| 23 years | $19,287 |
| 25 years | $22,115 |
Top Solar Installers in Severn
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar company can make swapping over to solar power much easier. The payback period on a solar system will vary depending on factors like your roof configuration and energy use, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Severn
Factors that Affect Solar Panel Costs in Severn
While the average cost of a solar system in Severn is $13,244, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,540.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Severn, and each can charge varying amounts for labor and equipment.The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.68 | $15,463 | $7,994 | 16.5 years |
| 8 kW | $3.61 | $20,220 | $11,055 | 16.2 years |
| 10 kW | $3.54 | $24,780 | $14,314 | 15.8 years |
| 12 kW | $3.47 | $29,141 | $17,771 | 15.5 years |
| 14 kW | $3.40 | $33,304 | $21,427 | 15.2 years |
| 16 kW | $3.33 | $37,269 | $25,281 | 14.9 years |
| 18 kW | $3.26 | $41,036 | $29,333 | 14.6 years |
| 20 kW | $3.19 | $44,604 | $33,583 | 14.3 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Severn, MD Solar Cost FAQs
What is the average cost of installing solar panels in Severn?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Severn?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $781.87 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.